The Tape SaysFirst-hand market data on crypto and macro — backtests you can rerun, positions posted before the outcome, and the full log when they lose.https://thetapesays.com/Covered calls on Bitcoin sell the only part that payshttps://thetapesays.com/research/covered-calls-sell-the-only-part-that-pays/https://thetapesays.com/research/covered-calls-sell-the-only-part-that-pays/Seven years of Binance daily bars, a monthly covered call simulated three ways. Buy and hold returns 7.90x. The friendliest version of the option strategy returns 0.29x.Thu, 17 Sep 2026 00:00:00 GMTStablecoins are basically two chainshttps://thetapesays.com/research/stablecoins-are-basically-two-chains/https://thetapesays.com/research/stablecoins-are-basically-two-chains/Ethereum and Tron hold 79% of all stablecoin float. Everything else, including the chains with the loudest conference slides, is fighting over a fifth of it.Thu, 17 Sep 2026 00:00:00 GMTWhat the tokenized stock exemption takes backhttps://thetapesays.com/research/what-the-tokenized-stock-exemption-takes-back/https://thetapesays.com/research/what-the-tokenized-stock-exemption-takes-back/The SEC granted onchain equity venues a five-year pass on exchange registration. Read the conditions and the pass is a definition: a tokenized share has to be a share.Thu, 17 Sep 2026 00:00:00 GMTFunding rate carry is mostly gonehttps://thetapesays.com/research/funding-rate-carry-is-mostly-gone/https://thetapesays.com/research/funding-rate-carry-is-mostly-gone/Seven years of Binance BTCUSDT funding, every one of the 7,689 settlements. The trade paid 30.6% in 2021 and 2.82% in 2026.Wed, 16 Sep 2026 00:00:00 GMTThe FOMC reversal is a drop thing, not a Fed thinghttps://thetapesays.com/research/the-fomc-reversal-is-a-drop-thing/https://thetapesays.com/research/the-fomc-reversal-is-a-drop-thing/93 scheduled decisions since 2015 against 3,452 days with no Fed meeting. Bitcoin bounces less after FOMC drops than after ordinary ones.Wed, 16 Sep 2026 00:00:00 GMTWhat the CLARITY vote actually pricedhttps://thetapesays.com/research/what-the-clarity-vote-actually-priced/https://thetapesays.com/research/what-the-clarity-vote-actually-priced/Bitcoin fell 3.38% the night cloture failed. Almost none of it was the bill. The arithmetic closes to the decimal.Wed, 16 Sep 2026 00:00:00 GMT